Earnings: Teledyne, BlackLine, Wesco

Teledyne Technologies Inc. beat Wall Street estimates on earnings and revenue for the first quarter. The Thousand Oaks aerospace, marine and energy products manufacturer on Thursday reported net income of $66.5 million ($1.81 a share) on revenue of $696 million in the quarter ended April 1. That compares to net income of $30.5 million (84 cents) in the same period a year earlier. Analysts on average expected earnings of $1.55 on revenue of $661.6 million, according to Thomson Financial Network. “Our digital imaging segment performed exceptionally well again, with sales increasing 21.7 percent organically from last year,” Chief Executive Robert Mehrabian said in a statement. “Sales of defense and space electronics were also strong with one large space program contributing to our all-time record orders. Shares in Teledyne (TDY) closed Thursday up $3.59, or nearly 2 percent, to $183.58 on the New York Stock Exchange. BlackLine Inc. topped Wall Street estimates on adjusted earnings and revenue in the first quarter. The Woodland Hills accounting software developer reported on Thursday adjusted net income of $306,000 (1 cent) on revenue of $51.3 million for the quarter ending March 31. That compares with an adjusted net loss of $1.6 million (-3 cents) in the same period a year earlier. Analysts on average expected an earnings loss of -3 cents on revenue of $50.3 million, according to Thomson Financial Network. The quarterly results were released after the market closed. Shares in BlackLine (BL) closed up 83 cents, or almost 2 percent, to $42.84 on the Nasdaq. Wesco Aircraft Holdings Inc. came out ahead of Wall Street estimates on adjusted earnings and revenue in the fiscal second quarter. The Valencia aircraft parts supplier reported on Thursday an adjusted net income of $22.2 million (22 cents a share) on revenue of $390 million for the quarter ending March 31. That compares to adjusted net income of $21.1 million (21 cents) in the same period a year earlier. Analysts on average expected earnings of 17 cents on revenue of $375 million, according to Thomson Financial Network. The results were released after the market closed. Shares in Wesco (WAIR) closed down 10 cents, or just more than 1 percent, to $9.35 on the New York Stock Exchange.